13480 S Thorntree Dr #910 · Houston, TX 77015

$49,000

1 bd · 1.0 ba · 552 sqft · Condo public records · 356 Days on market

Built 1981 $89/sqft · 20% below area Est $61k · 20% under $208/mo HOA · 24% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.4/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-maintained property offers 1 bedroom and 1 bathroom, thoughtfully designed for everyday comfort. Tiled floors throughout the home provide easy maintenance and a clean, modern feel. A dedicated laundry room adds convenience to your daily routine. The bedroom features a ceiling fan to help keep you cool, and the living room includes a fireplace, perfect for relaxing evenings. The kitchen is equipped with a single-range oven, dishwasher, and practical double sinks to make meal prep and cleanup easier. This property is being sold with three other investment properties. Kindly refer to these MLS numbers: 13480 S Thorntree Drive #508 - 15241348 13480 S Thorntree Drive #1206 - 88053105 13480 S Thorntree Drive #1004 - 64613388

Key facts

• Ceiling fan
• Tiled floors
• Dishwasher

Tags

• TILED FLOORS
• DEDICATED LAUNDRY ROOM
• CEILING FAN
• FIREPLACE
• SINGLE-RANGE OVEN
• DISHWASHER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $49k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($877 rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.2% in Houston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#184 in TX, #4,771 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools D, crime F.
• Galena Park ISD (suburban): math 32% / reading 33% proficiency, ranked #578 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.8%/yr); 162 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 356 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $11k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 356 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.79% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.50%
• DSCR: 1.56
• GRM: 4.7

CMA / ARV

• ARV (median comp): $61,359
• List price: $49,000
• Delta: -20.14%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.91×
• Total profit: $-1,265
• Equity at exit: $7,306

10-year hold

• IRR: 1.6%
• Equity multiple: 1.09×
• Total profit: $1,269
• Equity at exit: $4,237

Cash invested: $13,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 77015

• Home prices YoY: -10.8%
• Rents YoY: -0.8%
• Active inventory: 162
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $877 high
• Mortgage (P&I): −$257
• Tax from tax record: −$64 /mo · $771/yr
• Insurance: −$20
• HOA: −$208
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $143

Break-even live

Break-even rent $696

Max offer price $49,000

Occupancy floor 79%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Uvalde Rd Houston, TX	1.0–2.0	1.0–2.0	868	$805	$0.93	1d	20	0.11mi
13502 N Thorntree Dr Unit 1047 Houston, TX	1.0	1.0	583	$824	$1.41	11d	1	0.16mi
13502 N Thorntree Dr Houston, TX	1.0	1.0	583	$773	$1.33	12d	1	0.16mi
13502 N Thorntree Dr Unit 13553 Houston, TX	1.0	1.0	635	$864	$1.36	43d	1	0.18mi
13502 N Thorntree Dr Unit 13523 Houston, TX	1.0	1.0	583	$781	$1.34	2d	1	0.18mi
13502 N Thorntree Dr Unit 13523 Houston, TX	1.0	1.0	635	$869	$1.37	12d	1	0.18mi
250 Uvalde Rd Houston, TX	1.0–3.0	1.0–2.0	909	$739	$0.81	2d	26	0.30mi
316 White Cedar St Houston, TX	1.0	1.0	712	$1,035	$1.45	22d	1	0.33mi
316 White Cedar St Houston, TX	1.0	1.0	712	$1,035	$1.45	19d	1	0.33mi
14445 Wallisville Rd Unit a1 Houston, TX	—	1.0	519	$772	$1.49	43d	1	0.57mi
14445 Wallisville Rd Houston, TX	2.0	1.0–2.0	659	$976	$1.48	1d	10	0.57mi
14340 Wallisville Rd Unit 1162 Houston, TX	1.0	1.0	670	$1,080	$1.61	5d	1	0.65mi
14340 Wallisville Rd Houston, TX	1.0	1.0	670	$1,069	$1.60	12d	1	0.65mi
14340 Wallisville Rd Unit 325 Houston, TX	1.0	1.0	670	$1,077	$1.61	2d	1	0.65mi
14340 Wallisville Rd Unit 14361 Houston, TX	1.0	1.0	670	$1,077	$1.61	2d	1	0.66mi
14340 Wallisville Rd Unit 14361 Houston, TX	1.0	1.0	669	$1,095	$1.64	12d	1	0.66mi
14340 Wallisville Rd Unit 14391 Houston, TX	1.0	1.0	669	$1,090	$1.63	43d	1	0.66mi
5675 Purple Sage Rd Houston, TX	1.0–2.0	1.0–2.0	782	$1,039	$1.33	3d	18	0.70mi
12955 Woodforest Blvd Unit 305 Houston, TX	1.0	1.0	728	$975	$1.34	24d	1	0.80mi
5921 Uvalde Rd Houston, TX	1.0	1.0	644	$963	$1.50	43d	1	0.81mi
5921 Uvalde Rd Houston, TX	1.0	1.0	644	$963	$1.50	20d	1	0.81mi
5915 Uvalde Rd Houston, TX	1.0–3.0	1.0–2.0	779	$796	$1.02	2d	13	0.87mi
12800 Woodforest Blvd Unit 12874 Houston, TX	1.0	1.0	414	$707	$1.71	2d	1	0.95mi
12800 Woodforest Blvd Unit 12851 Houston, TX	1.0	1.0	414	$710	$1.71	15d	1	0.95mi
12800 Woodforest Blvd Unit 12874 Houston, TX	1.0	1.0	414	$745	$1.80	12d	1	0.95mi
12800 Woodforest Blvd Unit 12842 Houston, TX	1.0	1.0	414	$667	$1.61	2d	1	0.95mi
13925 Alderson St Houston, TX	1.0	1.0	620	$844	$1.36	2d	1	0.97mi
13925 Alderson St Houston, TX	1.0	1.0	730	$824	$1.13	15d	1	0.97mi
13925 Alderson St Houston, TX	2.0	1.0	700	$1,273	$1.82	3d	1	0.97mi
13925 Alderson St Houston, TX	1.0	1.0	620	$845	$1.36	3d	1	0.97mi
456 Normandy St Houston, TX	1.0	1.0	734	$1,099	$1.50	43d	1	1.21mi
555 Normandy St Houston, TX	1.0–2.0	1.0–2.0	745	$818	$1.10	2d	23	1.35mi
561 Normandy St Houston, TX	1.0	1.0	680	$999	$1.47	24d	1	1.36mi
695 Normandy St Houston, TX	1.0–2.0	1.0–2.0	788	$899	$1.14	12d	30	1.41mi

HOA detail condo

• Monthly dues: $208 · $2,496/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $49,000 Active 356 DOM
2. 2026-06-17
   days on market $49,000 Active 355 DOM
3. 2026-06-16
   days on market $49,000 Active 354 DOM
4. 2026-06-15
   days on market $49,000 Active 353 DOM
5. 2026-06-13
   days on market $49,000 Active 351 DOM
6. 2026-06-13
   days on market $49,000 Active 350 DOM
7. 2026-06-09
   days on market $49,000 Active 347 DOM
8. 2026-06-08
   days on market $49,000 Active 346 DOM
9. 2026-06-07
   days on market $49,000 Active 345 DOM
10. 2026-06-04
    days on market $49,000 Active 342 DOM
11. 2026-06-03
    days on market $49,000 Active 341 DOM
12. 2026-06-02
    days on market $49,000 Active 340 DOM
13. 2026-06-01
    days on market $49,000 Active 339 DOM
14. 2026-05-31
    days on market $49,000 Active 338 DOM
15. 2026-03-03
    price $49,000 744-char remark

    Show marketing remark (744 chars)

    This well-maintained property offers 1 bedroom and 1 bathroom, thoughtfully designed for everyday comfort. Tiled floors throughout the home provide easy maintenance and a clean, modern feel. A dedicated laundry room adds convenience to your daily routine. The bedroom features a ceiling fan to help keep you cool, and the living room includes a fireplace, perfect for relaxing evenings. The kitchen is equipped with a single-range oven, dishwasher, and practical double sinks to make meal prep and cleanup easier. This property is being sold with three other investment properties. Kindly refer to these MLS numbers: 13480 S Thorntree Drive #508 - 15241348 13480 S Thorntree Drive #1206 - 88053105 13480 S Thorntree Drive #1004 - 64613388

16. 2025-09-15
    price $52,000 744-char remark

    Show marketing remark (744 chars)

    This well-maintained property offers 1 bedroom and 1 bathroom, thoughtfully designed for everyday comfort. Tiled floors throughout the home provide easy maintenance and a clean, modern feel. A dedicated laundry room adds convenience to your daily routine. The bedroom features a ceiling fan to help keep you cool, and the living room includes a fireplace, perfect for relaxing evenings. The kitchen is equipped with a single-range oven, dishwasher, and practical double sinks to make meal prep and cleanup easier. This property is being sold with three other investment properties. Kindly refer to these MLS numbers: 13480 S Thorntree Drive #508 - 15241348 13480 S Thorntree Drive #1206 - 88053105 13480 S Thorntree Drive #1004 - 64613388

17. 2025-06-27
    listed $59,990 Active 744-char remark

    Show marketing remark (744 chars)

    This well-maintained property offers 1 bedroom and 1 bathroom, thoughtfully designed for everyday comfort. Tiled floors throughout the home provide easy maintenance and a clean, modern feel. A dedicated laundry room adds convenience to your daily routine. The bedroom features a ceiling fan to help keep you cool, and the living room includes a fireplace, perfect for relaxing evenings. The kitchen is equipped with a single-range oven, dishwasher, and practical double sinks to make meal prep and cleanup easier. This property is being sold with three other investment properties. Kindly refer to these MLS numbers: 13480 S Thorntree Drive #508 - 15241348 13480 S Thorntree Drive #1206 - 88053105 13480 S Thorntree Drive #1004 - 64613388

18. 2024-06-11
    historical $900
19. 2024-02-29
    price $900
20. 2024-02-06
    price $950
21. 2024-01-13
    listed $1,000
22. 2022-07-28
    listed $975 Active
23. 2022-07-28
    historical
24. 2022-06-14
    soldstatus
25. 2022-04-07
    soldstatus
26. 2022-04-05
    soldstatus Sold
27. 2022-02-28
    status Pending
28. 2022-02-28
    listed $43,000 Active
29. 2022-02-07
    historical
30. 2022-01-20
    listed $45,000 Active
31. 1990-06-25
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $771 · $64/mo
• Projected year-2 tax: $897 · $75/mo
• Expected delta: +$126/yr (+$10/mo · 16.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,519
• − Mortgage interest: −$2,745
• − Property taxes: −$771
• − Insurance: −$245
• − Repairs & maintenance: −$842
• − Management: −$842
• − HOA: −$2,496
• − Depreciation: −$1,425
• Taxable income: $1,154
• Est. tax owed @ 24.0%: −$277
• After-tax cash flow: $1,438/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Galena Park ISD
• NCES district ID: 4820250
• Math proficiency: 32% ▼ -20.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $43,158
• Composite: 27.62/100
• National rank: #6927
• State rank: #578 of 826 in TX

Livability — Houston

• Score: 74/100
• State rank: #184
• US rank: #4771

Category grades

Amenities A+ Commute A Cost of living A+ Crime F Employment C Housing A+ Health & safety A- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 58,415
• Household income: $57,753
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1816.0

Population outlook (Harris County) Hauer SSP2

• Today (2025): 5,571,493 people
• By 2030: 6,089,821 · +9.3%
• By 2040: 7,142,806 · +28.2%
• By 2050: 8,185,864 · +46.9%
• By 2075: 10,574,329 · +89.8%
• By 2100: 12,109,958 · +117.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 54% Black 14% White 6% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 60% Cuban 2%
• Foreign-born: 33% · Canada, Vietnam
• Languages at home: 31% English-only · Spanish 68% Vietnamese 1%

Political lean MEDSL · Harris

• 2024 margin: Lean D (+5.5) · D 52.0% · R 46.4% · Other 1.6%
• 2008→2024 swing: +3.9pp toward D · 2008: 1.6pp · 2024: 5.5pp
• All cycles: 2024: D+5.5 2020: D+13.3 2016: D+12.4 2012: D+0.1 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.47%
• Current HPI: 300.1821
• Rent YoY: ▼ -0.83%
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+8.9% since first listed

17 events — show timeline

• 2026-03-03 Price Changed $49,000 HARMLS
• 2025-09-15 Price Changed $52,000 HARMLS
• 2025-06-27 Listed $59,990 HARMLS
• 2024-06-11 Rental Removed $900 HARMLS
• 2024-02-29 Price Changed $900 HARMLS
• 2024-02-06 Price Changed $950 HARMLS
• 2024-01-13 Listed for Rent $1,000 HARMLS
• 2022-07-28 Listing Removed — HARMLS
• 2022-07-28 Listed $975 HARMLS
• 2022-06-14 Sold (Public Records) — Public Records
• 2022-04-07 Sold (Public Records) — Public Records
• 2022-04-05 Sold (MLS) — HARMLS
• 2022-02-28 Pending — HARMLS
• 2022-02-28 Listed $43,000 HARMLS
• 2022-02-07 Listing Removed — HARMLS
• 2022-01-20 Listed $45,000 HARMLS
• 1990-06-25 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2025): $771 · +24.9% YoY. Source: county tax records.